Philippines Sells Marcos’ Mansion in N.J. for $1 Million
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MANILA — The Philippine government has sold a New Jersey mansion seized from former President Ferdinand E. Marcos for $1 million, the state-run news agency reported today.
The sale marked the first time a Marcos property has been sold since the Presidential Commission on Good Government was formed to recover the ill-gotten wealth of the former president who fled to Hawaii in February, 1986, the agency said.
The Philippine News Agency, PNA, reported the mansion in Lawrence Township, N.J., was sold to an unidentified American buyer. It did not say when the sale occurred.
PNA said Marcos bought the 13-acre estate early in the 1980s to be the home of his daughter, Imee, while she studied at nearby Princeton University.
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